Proactive Investors - Run By Investors For Investors

Brainworks trims stake in fintech GetBucks

The company had said previously it wants to exit financial services and focus on hospitality,
Sales will raise US$565,000

Brainworks Limited (JSE:BRA) has cut its stake in Zimbabwe fintech group GetBucks to reduce its short-term debt.

The Johannesburg-listed group raised US$565,000 from the disposal, which comprised sales of shares to Stodaflo and related company Fodnort.

WATCH: Restructure sees Brainworks Ltd dispose of financial services assets

Brainworks had said previously it wants to exit financial services and focus on hospitality, which include hotels near to Victoria Falls in Zimbabwe, and real estate.

GetBucks reported net profit after tax of US$2.58mln for the six months ending December 2017 and had total net assets of US$15.5mln.

View full BRA profile View Profile

Brainworks Limited Timeline

Related Articles

April 02 2019
Directors have 'a reasonable degree of certainty' that positive basic earnings per share will be achieved in 2018
Crypto tokens
November 22 2018
In October, the firm sold its first two investment for twenty and seventeen times their purchase price respectively, netting it US$260,000
January 29 2019
Formerly known as Legendary Investment, the investment firm focuses on “near start up” and small companies in sectors that exhibit long term growth including energy, technology, and natural resources

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use